The figures represent the largest profit since Roman Abramovich took control of the club in 2003, after the Stamford Bridge side secured £1.4million tow years ago.

UEFA's Financial Fair Play regulations were satisfied as a result, as player sales and business partnerships were cited as the reasoning for the significant increase.

The turnover figure rose from £255.8million, increasing for the fifth consecutive year, as the club proved that they can increase their growth in years when trophies are not won.

The days of the west London side incurring huge losses because of spending under Russian owner Roman Abramovich appear to be at an end.

(Image: Action Images)

The results suggest that after a period of frantic spending to establish itself among English football's elite, the club is now maturing .

Club chairman Bruce Buck told ChelseaFC.com that the club are delighted to have balanced their spending with equal success on the pitch.

He said: "The club is naturally pleased to record a significant profit for 2013/14. By reaching the Champions League semi-final and maintaining a challenge in the Premier League until the final week of the season we demonstrated that, while improving our financial figures, we remained competitive in football’s toughest club competitions.

"We financed player purchases from sales as the squad for this current season was shaped, and our philosophy since Mr Abramovich acquired the club in 2003 has been to build upon success on the pitch.

"That is evident in the partnerships we signed and in our fan base growth which contributed to the new record turnover figure and the profit made. We have done all of this at the same time as creating one of the world’s leading football community programmes through the Chelsea Foundation."

(Image: Dean Mouhtaropoulos)

The figures have been helped by the sales of Juan Mata to Manchester United in January and David Luiz to Paris Saint-Germain last summer.

Even though their stadium capacity puts them at a disadvantage in matchday revenue, their commercial activity has also increased.